TokenPay Ecosystem Report – June 2019

By TokenPay Team | June 28, 2019, 11:46 AM

eFIN DEX

— Trading Module Launch: it has been delivered and will be improved during June to make sure all major UI functionality is stable. Work will continue in July for secondary priorities and new trading pairs will be rolled out with TPAY as the base pair, including EFIN coin which is expected for August 1st, pending the anticipated CoinMarketCap API integration next month.

— Easy Trade Launch: easy trade functionality will be deployed in July 31st if no major critical issues are found and priorities don’t changed.

— Market Orders: market orders will launch August 15th.

eFIN/Blast Partner

— EFIN Rewards for TPAY Staking: they will be assigned next week. Blocksize will meet with the team this weekend to address this since we had to wait for the Blast migration before assigning this. All May rewards will be delivered as promised as per the original schedule. This will also include Standard Members of eFIN.

CryptoBet & CBET

— CBET Rewards Begin: the CBET rewards are already being assigned to the users in the Blast Dashboard. The coins will be distributed to user wallets on the eFIN DEX on July 1st. CBET will be available for trading on the DEX shortly after, but no exact date has been set.

— First CBET Airdrop for EFIN Partners and Platinum Partners: this will have to take place just before the distribution. We are aiming for June 30th. We are also doubling the Airdrop for Partners from 7,500,000 CBET to 15,000,000 CBET. Partners and Platinum will share 10,000,000 CBET and Platinum will exclusively receive 5,000,000 CBET. This will be over 120 months as originally stated. This Airdrop will be funded by the 40,000,000 pre-mined CBET coins.

— CBET Airdrop for TPAY Stakers: this will be taking place July 17th, and it will follow the original schedule of up to 7,500,000 TPAY as outlined in the CBET Whitepaper. This Airdrop will be funded by the 40,000,000 pre-mined CBET coins.

— Revenue Share: there is no longer a requirement to be staking TPAY or EFIN in order to receive the CBET revenues. We anticipate the first revenue payout to CBET holders to be in BTC and take place during the first week of July. This payout will represent 100% of the net gaming revenues of CryptoBet.com from June 3rd to June 30th. Platform revenues and win/loss are posted daily on Twitter, and will be available on the website on the Reporting page as early as next week.

— The 50% June Bonus for miners of over 1000 CBET that are staking TPAY: this tentative date is July 1st. There is no longer a requirement to be staking TPAY or EFIN to receive this bonus. Miners will still need to have earned over 1000 CBET during June to receive this bonus. This June bonus will be a CBET mining multiplier and funded by the 60,000,000 mineable CBET coin supply.

Management Commentary

The purposes of these changes are to reward the Blast Partner (formerly known as eFIN Partner) members. We appreciate the support and hope that Partners enjoy the benefit of DOUBLE the CBET Airdrops then what was originally announced. This will be partially funded by the 5,000,000 CBET coins that were allocated to EFIN staking rewards that we will discontinue. The reason being, EFIN wallet does not have the capability to sign messages yet, unlike the TPAY desktop wallet. There is no date to implement this functionality and we have prioritized other eFIN DEX development ahead of this and have therefore decided to instead shift these benefits directly to the Partners.

Furthermore, we will start the Membership 12 Month Partner Billing Cycle no earlier than August 1st, 2019. So, Partners that joined prior to this date will have accumulated months of free rewards. We anticipate the first renewals will be August 2020, and at this time we believe that our valuable members enjoy the benefit of renewing Partner and Platinum memberships. Many have joined as a Partner by using only their TPAY stakes, which is a testament to the amazing ecosystem that we are building. Partners are our top priority and the benefits of becoming a Partner, and especially Platinum, will continue to be enhanced throughout the rest of this year.

Like the EFIN wallet message signing, the ability to require TPAY or EFIN staking to receive CBET revenues is a technological challenge that would require substantial work between the CryptoBet and Blocksize teams. Accordingly, we will eliminate the requirement for holders of CBET to be staking TPAY or EFIN coins in order to receive the BTC revenue distributed to CBET holders. We feel that both of these development teams have considerable work ahead and the time is better spent enhancing the respective project. Going forward, we will focus on simplicity and easy to understand tokenomics, business rules and logic.